This means that the existing and longstanding promoters and management of NDTV have exited the company. The Adani group takeover is thus complete. The board also appointed Sanjay Pugalia and Senthil Chengalvarayan as directors on the RRPRH board with immediate effect.
NDTV's scrip opened at Rs 420 on Tuesday and touched a high of Rs 426.40 intra-day before closing at Rs 426.40 on Tuesday.
The board also appointed Sanjay Pugalia and Senthil Chengalvarayan as directors on RRPRH board with immediate effect.
Shares of television channel takeover target company New Delhi Television Ltd (NDTV) hit the BSE upper circuit on Wednesday. The scrip had hit the upper circuit on Tuesday at Rs 384.10 and opened at Rs 403.30 on Wednesday which was also the upper price band.
The Adani Group informed both exchanges, BSE and NSE, that its indirect subsidiary, Vishvapradhan Commercial Pvt Limited (VCPL), had made an open offer to the public shareholders of New Delhi Television Ltd, on Wednesday.
Adani and NDTV deal: Adani Group's takeover of New Delhi Television (NDTV) is still making headlines. The contention is not over yet. They have started a new debate on whether Adani needs clearance from the Income Tax department to take control over NDTV.
Vishvapradhan Commercial, a wholly owned subsidiary of AMG Media Networks, the media arm of Adani group has exercised the rights to acquire 99.5 per cent of the equity shares of RRPR Holding Private Limited, a promoter group company of NDTV.
The total outlay for 26 percent, or 16,762,530 fully paid up equity shares of NDTV - if the offer is accepted in full - will be about Rs 483 crore for the Adani group.
As per the reports, the JK 24x7 journalist suffered a bullet injury while two journalists from NDTV were beaten and punched by rioters.
The first hearing in the matter, NDTV informed the exchanges, is scheduled for 26 October in Ahmedabad City Civil Court.
